FX

GBP/USD holds positive ground around 1.2790 amid the firmer USD on Thursday.  The ISM said on Wednesday that its US Services PMI rebounded to 53.8% in May from 49.4% in April.  The UK S&P Global Services PMI reached a six-month low of 52.9 from 55.0 in April.  The GBP/USD pair resumes upside near 1.2790 despite

Natural Gas price starts to consolidate after a sharp rally in May.  Egypte is importing more Gas ahead of the summer session to meet energy demand. The US Dollar Index jumps higher on Tuesday and is on track to recover initial weekly losses.  Natural Gas price (XNG/USD) trades roughly flat at around $2.70 during the

Gold drops 0.90% as commodities face widespread pressure. US Treasury yields fall seven basis points, but the Greenback gains marginally, with the DXY up 0.04% to 104.08. US JOLTS data hit three-year low, showing economic slowdown alongside below-estimate Durable Goods Orders. Gold prices retreat some 0.90% in the mid-North American session on Tuesday, amid a

The Oil price fell to $72.50 as OPEC+ plans to shore up the market. Weak US factory PMI raise concerns over the Oil demand outlook. Investors await the US NFP data for fresh guidance. West Texas Intermediate (WTI), futures on NYMEX, fall further to $72.50 in Tuesday’s European session. The Oil price extends its losing streak for

Dow Jones backslides as investors balk at softening US data. Markets have shifted to bets of a November Fed rate cut. Monday kicks off NFP week with a sharp pullback in equities. The Dow Jones Industrial Average (DJIA) is down around 200 points on Monday with investors taking a step back after US ISM Manufacturing Purchasing

Oil steadies near $77.00, looking for direction after Sunday’s OPEC+ meeting.  OPEC+ meeting sets the tone for more downside after the summer season despite the decision to extend production cuts.  The US Dollar Index trades at mid-104.00 levels and is facing a heavy week full of economic data. Oil prices trade broadly steady on Monday,

Dow Jones rebounds from lows near 38,000.00 after heavy backslide. Market sentiment recovering as rate cut hopes rise once again. US PCE Price Index inflation cools faster than expected. The Dow Jones Industrial Average (DJIA) rebounded nearly 580 points on Friday as investor sentiment turned higher after US Personal Consumption Expenditures (PCE) Price Index inflation eased

Broad-market risk appetite recovers on Friday as US PCE inflation eases. Canada saw a weaker-than-expected rebound in GDP. US PCE inflation cooled further, fueling rate cut hopes. The Canadian Dollar (CAD) is broadly higher on Friday, but gains are capped after softer-than-expected prints in Canadian economic data. Investor hopes for a September rate cut are

The daily RSI is pointing upwards, hovering around 70, but continuing red bars in the MACD show a trailing consolidation. On the hourly chart, indicators are neutral and reside in the positive terrain. The 20-day SMA at 169.00 serves as an important threshold for sellers. On Friday’s trading session, despite recent downside corrections, the EUR/JPY

Oil gives up earlier attempts to avoid losses and falls to session’s low.  OPEC+ will convene online to decide on production cuts, with most analysts expecting current cuts to extend into 2025.  The US Dollar Index trades further below 105.00 to the mid 104.50-levels.  Oil prices were trying to claw back though are back to

Trump Media stock rotates 4% lower after gaining in premarket. Donald John Trump was convicted of 34 felony counts for falsifying business records on Thursday. New York state jury was unanimous on all counts against former President. DJT stock support sits near $42 if shares fall out of $45 to $50 consolidation zone. Trump Media

The Eurozone Harmonized Index of Consumer Prices (HICP) increased at an annual pace of 2.6% in May, higher than a 2.4% growth in April, the official data released by Eurostat showed Friday. The data beat the market expectations for a 2.5% acceleration in the reported period. The Core HICP inflation rose to 2.9% YoY in the

Canadian Dollar pivots into high side on Thursday amid fresh risk appetite. Canada finds better-than-expected Current Account figures. US GDP growth cooled as expected, sparking fresh rate cut hopes. The Canadian Dollar (CAD) is rebounding on Thursday, recovering ground previously lost in the midweek market session as broad market flows in the Greenback dictate overall

NZD/USD extends its losing streak following the NZ Yearly Budget on Thursday. New Zealand Treasury sees inflation falling to below 3% in Q3. The lower US Treasury yields put pressure on the US Dollar, limiting the downside of the pair. NZD/USD continues its losing streak for the third consecutive day on Thursday. The pair trades around

Chewy reports Q1 earnings before the open on Wednesday. CHWY stock shoots up 28% on tripling of net income. Revenue beats consensus by $40 million, last year’s total by 3%. CEO Sumit Singh adds $500 million buyback provision. Chewy (CHWY), the online pet food retailer co-founded by Ryan Cohen of GameStop (GME) fame, has shot up

The Pound Sterling drops after facing selling pressure near 1.2800 due to multiple tailwinds. A soft UK inflation outlook could prompt the BoE to start unwinding higher interest rates. The US Dollar recovers amid uncertainty ahead of the US core PCE price index. The Pound Sterling (GBP) corrects to 1.2750 against the US Dollar (USD)

The Greenback managed to regain some late traction and trimmed most of its daily losses amidst a decent bounce in US yields and diminishing expectations of a rate cut by the Fed in September. Here is what you need to know on Wednesday, May 29: The USD Index (DXY) rebounded from multi-day lows near 104.30

The Japanese Yen struggled after Japan’s Weighted Median Inflation Index showed a slowdown. Japan’s Corporate Service Price Index posted a reading of 2.8% YoY in April, marking its fastest increase since March 2015. The decline in US Treasury yields put pressure on the US Dollar. The Japanese Yen (JPY) pares gains after the Bank of Japan (BoJ)